The Goldman Sachs Group Lowers Tronox (NYSE:TROX) Price Target to $16.00

Tronox (NYSE:TROX) had its target price lowered by equities research analysts at The Goldman Sachs Group from $18.00 to $16.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 26.18% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TROX. UBS Group dropped their price target on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Barclays cut their price target on Tronox from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Mizuho started coverage on Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.33.

Tronox Stock Down 2.2 %

NYSE:TROX opened at $12.68 on Thursday. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -5.66, a P/E/G ratio of 22.26 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. The stock’s fifty day moving average price is $14.01 and its two-hundred day moving average price is $16.38. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.16 EPS. On average, analysts anticipate that Tronox will post 0.44 EPS for the current year.

Institutional Investors Weigh In On Tronox

A number of hedge funds have recently modified their holdings of the business. Capital World Investors bought a new stake in Tronox during the 1st quarter worth approximately $19,152,000. Primecap Management Co. CA increased its position in shares of Tronox by 7.9% during the fourth quarter. Primecap Management Co. CA now owns 1,234,700 shares of the company’s stock worth $17,483,000 after acquiring an additional 90,500 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Tronox by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock worth $27,627,000 after acquiring an additional 127,718 shares during the period. Franklin Resources Inc. lifted its position in Tronox by 16.5% in the 4th quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock valued at $87,583,000 after acquiring an additional 876,192 shares in the last quarter. Finally, Capital International Investors boosted its stake in Tronox by 2.7% in the 1st quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock worth $82,536,000 after purchasing an additional 126,926 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.